Unita and Uniqa submit joint public bid offer for Agras Asigurari

Unita Vienna Insurance Group and Uniqa International will submit a mandatory public bid offer for 7.29% stake in Agras Asigurari (ASA) held by minority shareholders, after receiving the green light from National Securities Commission.

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Agras Vienna Insurance Group which has been renamed as Agras Asigurari in March 11, is 92% controlled by Vienna Insurance Group, the Austrian-based insurer being fully held by Uniqa International Beteiligungs Verwaltungs GmbH and Uniqa International Versicherungs-Holding GmbH.

As a result, the three companies will run a mandatory public bid offer to purchase 2.5 mln stake currently held by minority shareholders for 950,000 lei.

The offer will be made at 0.38 lei/share, 15% higher than market share price, of 0.33 lei, while the mediator of the bid will be Raiffeisen Capital & Investment.